Colbert offered his take on Santorum's decision to exit the race despite the candidate's frequent insistence that he would remain in the running until the Republican nominating convention in August.

"Many are speculating that Santorum dropped out now to avoid the embarrassment of losing to Mitt Romney in his own state," Colbert said, in reference to the upcoming Pennsylvania primary. However, Colbert quipped, "given the number of houses Mitt Romney owns, Pennsylvania is probably his home state, too."